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ICAE.TO vs. DXU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ICAE.TO vs. DXU.TO

Last updated Jul 4, 2026
See Documentation

ICAE.TO (Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF) and DXU.TO (Dynamic Active U.S. Dividend ETF) are both Dividend funds. ICAE.TO is passively managed, while DXU.TO is actively managed. Over the past 3 years, ICAE.TO returned 16.01%/yr vs 27.15%/yr for DXU.TO. At a 0.17 correlation, their price movements are largely independent. ICAE.TO charges 0.23%/yr vs 0.75%/yr for DXU.TO.

Performance

ICAE.TO vs. DXU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) and Dynamic Active U.S. Dividend ETF (DXU.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ICAE.TO achieves a 16.94% return, which is significantly lower than DXU.TO's 26.23% return.

ICAE.TO

1D
0.77%
1M
4.66%
6M
16.72%
YTD
16.94%
1Y
16.60%
3Y*
16.01%
5Y*
—
10Y*
—

DXU.TO

1D
1.13%
1M
-1.14%
6M
26.76%
YTD
26.23%
1Y
34.14%
3Y*
27.15%
5Y*
14.22%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ICAE.TO vs. DXU.TO - Yearly Performance Comparison

2026 (YTD)202520242023
ICAE.TO
Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF		16.94%10.02%17.62%5.84%
DXU.TO
Dynamic Active U.S. Dividend ETF		26.23%9.36%38.05%10.53%

Correlation

The correlation between ICAE.TO and DXU.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

Correlation (3Y)
Calculated over the trailing 3-year period

0.18

Correlation (All Time)
Calculated using the full available price history since Mar 13, 2023

0.17

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF

Dynamic Active U.S. Dividend ETF

Often compared with DXU.TO:
DXU.TO vs. ZDIV.TODXU.TO vs. DXQ.TODXU.TO vs. VDY.TODXU.TO vs. CWIN.TODXU.TO vs. DXBB.TODXU.TO vs. TBNK.TODXU.TO vs. DXMO.TO

Return for Risk

ICAE.TO vs. DXU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ICAE.TO
ICAE.TO Risk / Return Rank: 2929
Overall Rank
ICAE.TO Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
ICAE.TO Sortino Ratio Rank: 2222
Sortino Ratio Rank
ICAE.TO Omega Ratio Rank: 5252
Omega Ratio Rank
ICAE.TO Calmar Ratio Rank: 2424
Calmar Ratio Rank
ICAE.TO Martin Ratio Rank: 2020
Martin Ratio Rank
DXU.TO
DXU.TO Risk / Return Rank: 6969
Overall Rank
DXU.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
DXU.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
DXU.TO Omega Ratio Rank: 6666
Omega Ratio Rank
DXU.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
DXU.TO Martin Ratio Rank: 7474
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ICAE.TO vs. DXU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) and Dynamic Active U.S. Dividend ETF (DXU.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

ICAE.TODXU.TODifference
Sharpe ratioReturn per unit of total volatility
0.85
1.74

-0.89

Sortino ratioReturn per unit of downside risk
1.11
2.29

-1.19

Omega ratioGain probability vs. loss probability

1.27

1.32

-0.05

Calmar ratioReturn relative to maximum drawdown

1.01

3.75

-2.74

Martin ratioReturn relative to average drawdown

2.02

11.19

-9.16

ICAE.TO vs. DXU.TO - Sharpe Ratio Comparison

The current ICAE.TO Sharpe Ratio is 0.85, which is lower than the DXU.TO Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of ICAE.TO and DXU.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ICAE.TO vs. DXU.TO - Drawdown Comparison

The maximum ICAE.TO drawdown since its inception was -16.49%, smaller than the maximum DXU.TO drawdown of -29.23%. Use the drawdown chart below to compare losses from any high point for ICAE.TO and DXU.TO.

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Drawdown Indicators

ICAE.TODXU.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.49%

-29.23%

+12.74%

Max Drawdown (1Y)

Largest decline over 1 year

-16.49%

-9.15%

-7.34%

Max Drawdown (3Y)

Largest decline over 3 years

-16.49%

-23.80%

+7.31%

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.83%

—

Current Drawdown

Current decline from peak

-2.23%

-3.06%

+0.83%

Average Drawdown

Average peak-to-trough decline

-3.54%

-6.64%

+3.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.22%

3.06%

+5.16%

Volatility

ICAE.TO vs. DXU.TO - Volatility Comparison

The current volatility for Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) is 2.22%, while Dynamic Active U.S. Dividend ETF (DXU.TO) has a volatility of 9.07%. This indicates that ICAE.TO experiences smaller price fluctuations and is considered to be less risky than DXU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ICAE.TODXU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.22%

9.07%

-6.85%

Volatility (6M)

Calculated over the trailing 6-month period

7.91%

16.02%

-8.11%

Volatility (1Y)

Calculated over the trailing 1-year period

19.70%

19.76%

-0.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.03%

18.56%

-2.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.03%

19.70%

-3.67%

ICAE.TO vs. DXU.TO - Expense Ratio Comparison

ICAE.TO has a 0.23% expense ratio, which is lower than DXU.TO's 0.75% expense ratio.

Dividends

ICAE.TO vs. DXU.TO - Dividend Comparison

ICAE.TO's dividend yield for the trailing twelve months is around 2.74%, while DXU.TO has not paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
DXU.TO
Dynamic Active U.S. Dividend ETF		0.00%0.00%0.00%0.00%0.22%0.00%0.00%0.00%0.00%0.11%
ICAE.TO
Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF		2.74%3.29%3.33%2.87%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ICAE.TO and DXU.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ICAE.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ICAE.TO is cheaper with a 0.23% expense ratio, compared with 0.75% for DXU.TO.

They also come from different issuers: Invesco and Dynamic. Their fees differ too: 0.23% for ICAE.TO and 0.75% for DXU.TO.

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